consumer's rent
Consumer's surplus Consumer's surplus (Polit. econ.) The excess that a purchaser would be willing to pay for a commodity over that he does pay, rather than go without the commodity; -- called also

{consumer's rent}.

The price which a person pays for a thing can never exceed, and seldom comes up to, that which he would be willing to pay rather than go without it. . . . The excess of the price which he would be willing to pay rather than go without it, over that which he actually does pay, is the economic measure of this surplus satisfaction. It has some analogies to a rent; but is perhaps best called simply consumer's surplus. --Alfred Marshall. [Webster 1913 Suppl.]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • consumer's rent — noun see consumer s surplus …   Useful english dictionary

  • Consumer's surplus — (Polit. econ.) The excess that a purchaser would be willing to pay for a commodity over that he does pay, rather than go without the commodity; called also {consumer s rent}. The price which a person pays for a thing can never exceed, and seldom… …   The Collaborative International Dictionary of English

  • consumer's surplus — noun also consumer s rent : the amount above the actual price of a commodity a purchaser would pay in order not to go without the commodity …   Useful english dictionary

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